Coronavirus COVID-19 and Bill of Lading
Last year, I asked a question “Electronic bill of lading – are you and your country ready for it..??”..
This question could not be more relevant TODAY, considering the current circumstances, and the impact COVID-19 on the shipping and freight industry..
An electronic paperless bill of lading is a bill of lading issued electronically instead of being printed on paper and issued physically to the customer as a hard copy..
Whether using an electronic paperless bill of lading issued on the back of a Blockchain based platform or a Bolero based platform, these electronic bill of lading options are said to fulfill the functions in the same manner as a traditional paper bill of lading..
Many believe that the electronic bill of lading will be a game changer in the shipping industry with faster, efficient transactions, reduction in costs with greater security and less risk..
However, there were concerns on the issue of safety, security and acceptability relating to the transmission and receipt of electronic paperless bill of lading and in several cases it was required to check whether the carrier and country were ready for electronic paperless bill of lading..
Currently, we are in a unique moment in history where as per reports, COVID-19 has affected all countries around the world.. And this my friends is a time when almost all shipping lines and customers would be wishing that they had access to Electronic Paperless Bills of Lading..
Who should bear responsibility for loss of original bill of lading
Question from a reader..
Greetings Hariesh. I was just wondering, in a case whereby a plane say crashes or disappears, and having some OBLs being couriered, who would be responsible for doing the Letter of Indemnity to facilitate release of cargo?
Question from Lloyd BaMumu Taadira
What is a Delivery Order and who issues it..??
If you are in the shipping and freight industry, you would have no doubt heard about a Delivery Order..
This article explains in detail all about a Delivery Order – what is it, who issues it, who should it be issued to and its importance..
Can I get an Express Release for cargo while Original Bill of Lading is with the bank..??
An exporter wants to get an Express Release done while the Original Bill of Lading is with the bank..
Is this possible..?? Read this article to find out..
Story of a CIF contract and a Letter of Indemnity
This is the Story of a CIF contract and a Letter of Indemnity..
Seller is delivering CIF to Chinese port. The contract has an LOI provision if the original bill of lading should be lost..
The buyer’s bank refuses to make payment without original BOL and will not accept LOI..
What happens next..??